Hoteliers will start receiving a tourism stimulus package amounting to Sh3 billion next month, according to a top Tourism Finance Corporation official. 

The funds are aimed at cushioning hospitality industry which has been adversely affected by Covid-19, will be charged a flat interest rate of 5 per cent in a period of between five to 10 years.

Eligible to apply for the funds are those in the hospitality industry including hotels, lodges and camp sites and the application which closes end of this month will strictly be conducted online. 

Speaking to Business Hub at the Amboseli National Park in Kajiado County yesterday, TFC  Managing Director Jonah Orumoi said the stimulus package will bail out facilities which have been forced to shut down completely, leading to 100 per cent unemployment.

Targeted beneficiaries

“The amount set aside does not have a specific number of targeted beneficiaries.

We must review all applications and those who will qualify given the amount applied.

We can also downscale the amount applied and give a lower offer to an applicant, “ he disclosed.

Orumoi said most hotels are currently operating at below 30 per cent capacity as they are mainly depending on the domestic tourist. 

“Promoting social economic status of our hospitality facilities is very crucial.

We are targeting potential cash-strapped facilities to get a face-lift, expand capacity  and put measures to curb spread of Covid-19,” he said.

 Orumoi said having facilities that are well maintained will also reassure international tourists of their health safety while in the country and avert scare of contracting the deadly virus.